Market Perspectives November 30, 2017

U.S. Export Statistics

Corn: Net sales of 599,200 MT for 2017/2018 were down 45 percent from the previous week and 54 percent from the prior 4-week average. Increases were reported for Mexico (205,000 MT, including decreases of 2,000 MT), Japan (201,200 MT, including 91,900 MT switched from unknown destinations and decreases of 200 MT), South Korea (71,200 MT), Costa Rica (57,400 MT, including 27,700 MT switched from Honduras), Colombia (43,600 MT, including 40,000 MT switched from unknown destinations and decreases of 1,900 MT), and Morocco (25,000 MT). Reductions were reported for unknown destinations (38,600 MT). Exports of 651,200 MT were primarily to Mexico (268,800 MT), Japan (114,700 MT), Peru (111,500 MT), Colombia (70,200 MT), and Costa Rica (28,100 MT). 

Optional Origin Sales: For 2017/2018, new optional origin sales of 6,000 MT were reported for Taiwan. Options were exercised to export 66,000 MT to Taiwan (including 60,000 MT, switched from unknown destinations) from other than the United States. The current optional origin outstanding balance is 257,500 MT for South Korea (138,000 MT) and unknown destinations (119,500 MT). 

Barley: No net sales were reported for the week. Exports of 1,200 MT were reported to Japan (1,100 MT) and Taiwan (100 MT). 

Sorghum: Net sales of 328,000 MT for 2017/2018–marketing-year high–were up 2 percent from the previous week and 26 percent from the prior 4-week average. Increases were reported for China (262,000 MT, including decreases of 3,000 MT) and unknown destinations (66,000 MT). Exports of 217,100 MT–a marketing-year high–were up noticeably from the previous week and from the prior 4-week average. The destinations were China (204,900 MT), Japan (10,500 MT), and Mexico (1,700 MT).